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Monday, September 8th, 2014


‘I see Brazil An Alternate Universe Of Pakistan’

MOHSIN HAMID Known Pakistani literary figure Mohsin Hamid Takes part in FLIP festival in Brazil Mohsin Hamid grew up in Lahore, Pakistan and attended Princeton University and Harvard Law School. His first novel, Moth Smoke, won the Betty Trask Award and was a finalist for the PEN/Hemingway Prize. His second, The Reluctant Fundamentalist, spent over two months on the New York Times bestseller list. It was published in over 30 languages and was shortlisted for the Man Booker Prize and the IMPAC Dublin Literary Award, and was named by theRead More

2014 Football world Cup: a diplomatic success Story of Brazil

20 delegations headed by Heads of State or Government attend the mega eventAs many as 20 delegations headed by Heads of State or Government attended the world cup matches in Brazil. The event was declared as a huge diplomatic success of Brazil. It was a rare scene to see a great number of foreign dignitaries gathered in Brazil on this occasion. The Brazil embassy in Islamabad made elaborate arrangements on the occasion which include publication of a magazine on Football published in English and Urdu, informative broachure about Brazilian cities,Read More

BRICS shake up global economic architecture

By creating their own multilateral financial institutions, the BRICS emerging-market powers are shaking up global economic governance but remain far from dismantling the post-war system dominated by the West.For the past 70 years, the International Monetary Fund and the World Bank have been the pillars of the world’s economic system, coming to the rescue of countries in trouble and supporting development projects, respectively.

Forex effect felt as banks re-arm for turbulence

After a decade in which reserve managers built ever greater stockpiles to shield themselves against external shocks, global reserve growth stalled last year as the Federal Reserve’s plans to taper stimulus prompted a flight from emerging markets. But a year on from the ‘taper tantrum’, global reserves are growing at the fastest pace since early 2012, according to a Citigroup analysis of eight countries that publish figures on a daily or weekly basis. With low volatility fuelling an exuberant carry trade in emerging markets assets, some authorities are taking theRead More

BRICS Agree to Base Development Bank in Shanghai

FORTALEZA, Brazil—The leaders of the Brics countries took another step toward carving a larger role for themselves in the global financial system when they agreed Tuesday to base a new development bank in Shanghai. The New Development Bank, as it will be called, is intended to finance infrastructure projects in the founding members of Brazil, Russia, India, China and South Africa, and in other emerging-market countries as well.